Description: Discover the impact of COVID-19 on member costs post diagnosis and the future of mortality in this Emerging Long Term COVID-19 Trends webcast. This webcast will be split up into Health and Life portions. During the Health portion of this webcasts, you will learn more about the impact on risk scores due to recent findings. Enjoy this discussion and further dive into the emerging COVID-19 trends that may affect how you conduct business practices. At the Life portion, the SOA Research Institute assembled a panel of mortality experts who will express opinions on the effects of the U.S. mortality rate for general, insured and pension populations in the short-term.

Description: The SOA, with SCOR as the researcher, completed an experience study of post-level term (PLT) lapse and mortality. In the first part of this session, the presenters will cover the key findings of the traditional analysis regarding the shock lapse, the PLT lapse and mortality experience. The remainder of the session will focus on the results of the predictive modeling, which will provide further insights into policyholder behavior in the post-level term period.

Description: Are Accelerated Underwriting (AU) programs performing as expected? As mortality experience will (hopefully) be slow to emerge, it is pivotal that we look at alternative methods of monitoring early performance. From random hold outs, to post-issue APS's, and post-issue prescription profiles, explore popular monitoring techniques and lessons learned so far. Focus on confusion matrices that provide an early indication of mortality slippage relative to fluid-based underwriting decisions. Finally, explore statistical methods to determine what constitutes credibility and identify opportunities to think about mortality slippage more robustly.

Description: The Individual Life Experience Committee has numerous research projects underway. Take a look at three current areas of research: the analysis of the interaction of lapse and mortality experience using data from mandatory submissions; a deep dive into old age mortality; and an update on the committee's work to establish a predictive analytics framework that will be open for all actuaries and data scientists to use. By attending the session, you will: - Better understand the research conducted by the Individual Life Experience Committee. - Better understand the link between lapse and mortality experience, appreciate some of the nuances of older age mortality, and gain knowledge about a predictive analytics framework that will be released in the future.

Description: 2021 Life Meeting - Session 7D: Emerging Trends in Lapse and Mortality for Life Products 9.1.21 Recording

Description: Pricing is a central activity of actuaries to assure solvency and to manage risk. Life insurance is also a social good, not just a product, and the US population is massively underinsured. Pricing must strike a balance. Unlike a simple 4x4 matrix to produce pricing, today's technology offers the ability to evaluate literally thousands of variables, enabling a kind of precision pricing. It also heightens the possibility of introducing bias and discrimination through the use of unregulated third-party data.

Description: In order for an organization to benefit from artificial intelligence/machine learning (AI/ML) models, it requires the involvement of different business areas. During this webcast, professionals from data analytics, audit and risk areas will address challenges and provide solutions for working together to develop, implement, use and risk manage AI/ML tools. Throughout the discussion, the presenters will discuss: • Defining and exploring the challenges and objectives between data scientists, domain experts and control functions • Risk management – model risks and other risks • End-to-end model validation • Model performance vs. interpretability/understandability trade-offs • What to audit – auditor’s challenge and solutions

Description: Learn more about the predictive modeling that was applied to industry data for the lapse and mortality experience in the post-level term period. Novel approaches were taken to model the shock lapse, subsequent lapse, and mortality experience. Observe a demonstration of the Tableau tool, which was built to allow users to analyze data on their own.

Description: The session will highlight trends in recent industry mortality and lapse studies that have been conducted, including areas where individual companies typically have limited data. The sources of data feature SOA studies as well as other industry studies conducted by consultants and/or reinsurers. Gain an understanding of current drivers of mortality and lapse experience for life insurance evidenced in industry studies, and an understanding of available data to supplement experience in areas where you may have limited internal experience.

Description: We're introducing a new “cutting edge” wealth accumulation predictive framework, the predictive equity analytics (PEA) for life products (annuity, insurance, group employer benefits, retirement plan). PEA enables life insurers and policyholders to avoid market downturns and capture returns from equities (stocks, ETFs and mutual funds) predicted to increase in next one to three trade days via fund prediction advisory by insurers, additionally by individual policyholders. The capability does not exist in insurance markets nor in financial intermediary markets.